In October of 2010, The U.S. Treasury decided to vote its proportionate ownership interest in Citigroup to affirm reappointment of KPMG as Citi’s auditor for the 41st consecutive year. KPMG has served as Citigroup’s auditor since 1969. I wrote at the time:

Auditors are supposed to assess the additional risk of fraud and material misstatement associated with events like a global economic crisis, taking on taxpayers as significant shareholders (November 2008) and the credit chaos in industry and sovereign capital markets. But KPMG and the US Treasury have almost as much history together as KPMG and Citi.